Key Risk Indicator Toolkit

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Key Risk Indicator Forecast

In your organization, forecasting the future is a complex and absolutely critical job. What comes next for Key Risk Indicators in Business / Management / Technology / Operational / Security / Control / Information / Data / Regulatory?

Within the next quarter, driven by internal and external requirements, use the Key Risk Indicator Toolkit to grow maturity and adoption of the top forecasted Key Risk Indicator breakthrough technologies and applications.

Relevant to your organization in solving it's real problems and exploiting new opportunities:

  • Conduct risk assessments on business applications, third parties and infrastructure and validate that security and technology controls are implemented to support business requirements.
  • Work closely with all process owners to ensure all units define MCA monitoring tools which can be utilized to mitigate risks, within their relevant processes and functions.
  • Perform governance activities through policy and procedure creation and maintenance, risk management framework adherence, quality assurance activities, Inherent Risk Assessment (IRA) alignment, effective challenge and training and communication.
  • Push on with appropriate department leaders within and outside Operational Risk Management to analyze and enhance the effectiveness of business unit controls to prevent operational control breakdowns that lead to unexpected outcomes and / or operational losses.
  • Advance knowledge in information security principles, including risk assessment and management, threat and vulnerability management, and identity and access management.
  • Oversee and ensure that new initiatives are appropriately escalated and approved through the risk committee structure as required.
  • Establish and oversee the application of operational risk policies, technology and tools, and governance processes to create lasting solutions for minimizing losses from failed internal processes, inadequate controls, and emerging risks.
  • Establish an appropriate engagement model with 1st line counterparts to enable meaningful challenge and oversight which will adequately inform risk management forums.
  • Continuously monitor Key Operational Risks and related Key Indicators to ensure the Business is taking appropriate action to maintain thresholds aligned with industry events and properly responding to Warnings or Breaches.
  • Consolidate, analyze and escalate the operational risk reported by the various lines of defense to provide management with an executive view of the risk through governing committees and day to day interaction.
  • Ensure compliance with your organizations Operational Risk Framework and policies as well as meet Heightened Standards from Regulators for the 2nd Line of Defense.
  • Clarify the roles and accountabilities for Operational Risk specific programs cascaded from Management to the First Line of Defense, individual employees and Risk Management teams.
  • Improve Secure Workplace Inspections, on a quarterly basis, along with Business Heads and assist in keeping track of the findings during premises reviews.
  • Be responsible for the overall strategy and execution for the organizations new initiatives efforts.
  • Perform ongoing supervision and oversight of business controls which include the coordination of testing, root cause analysis, control design, and examining key risk metrics to evaluate the effectiveness of established business controls.
  • Provide guidance on how to handle sensitive data and Third Party Cyber Risk Governance.
  • Ensure that, by partnering with the business and operations counterparts, all testing is completed on time, exceptions are timely identified and discussed with management, and action plans are adequate to mitigate potential risks.
  • Assess risk when business decisions are made, with particular consideration for the organizations's reputation and safeguarding the organization, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhere to Policy, apply sound ethical judgment regarding personal behavior, conduct and business practices, and escalate, manage and report control issues with transparency, and effectively supervise the activity of others and create accountability with those who fail to maintain these standards.
  • Review and challenge whether Digital Operating Entities business/regional entities appropriately consider significant operational risk in their Management Control Assessments (MCAs).
  • Be responsible for providing 2nd line guidance, oversight, and challenge of technology, digital, OR data activities as it relates to the organizations Operational Risk Management (ORM) Program.
  • Manage responsibilities of performing risk oversight and reviews on new and existing business processes/products/services, strategic partnerships, analyze business processes; review preventive and detective control systems; review risk measurements; evaluate control operating and design effectiveness; identify potential/actual losses; analyze root cause analysis; monitor issues and action plans related to technology services, digital, and data management.
  • Perform walk-throughs and provide consultation on existing and new processes and facilitate documentation thereof, including the identification of business risks and controls.
  • Translate control deficiencies into action plans and facilitate effective and timely risk remediation through action plan oversight; provide recommendations to enhance governance practices in alignment with risk and compliance frameworks.
  • Lead Risk Reviews and Risk and Control framework assessments to proactively identify significant risks in the Business and develop specific recommendations for the Business to action.
  • Ensure compliance with regulatory requirements and with the organizations policies and procedures, along with the related oversight of the ORM Program in an effort to reduce liability and risk related issues to the organization.
  • Work with Specialists in other second lines of defense as relevant for individual risk types associated with the business or product in Risk identification, analysis and assessment of current and emerging issues.
  • Oversee responsibility for the Key Operational Risk Identification and Key Risk Indicator monitoring process, New Product Approvals, Scenario Analysis, Managers Control Assessment Challenges, Internal and External Loss Analysis as well as Risk Reviews to provide effective oversight.
  • Support business leaders adherence to the established risk framework and ongoing supervision of business controls including risk and control self-assessments, identify and evaluate control effectiveness, identify control failures, facilitate risk and compliance remediation, internal and external audits and regulatory exams, and monitor the first line of defense to minimize risk exposures and strengthen the overall control environment.
  • Understand the linkages, and ensure Business is leveraging all tools in place for managing the operational risk management cycle and evidencing the feedback loop, Scenario Analysis and Loss Analysis on a continuous basis.
  • Direct and leverage Operational Risk Management program tools to assist business units in identifying and managing operational risk imbedded within business, digital, information technology, information security and compliance processes.
  • Encourage the development of new (and modifications to existing) products, services, strategic partnerships, processes and systems and provide risk management guidance as to applicable control environment requirements and process changes related to technology services and vendor risks.
  • Provide second line of defense risk oversight of the Operational risk program, including application of operational risk policies/standards, procedures, strategies, material risks, risk reporting routines and metrics related to common risk methodologies.
  • Lead the business and subject matter experts to ensure risks are appropriately identified, controlled and managed across the company.
  • Review with process owners: risk classification, key controls and critical control test methodologies during the first quarter of every year and periodically throughout the year.
  • Model oversight and management of standards, policies, processes and tools related to user access to information resources and management of logical access risks.
  • Ensure the overall effectiveness of risk and compliance management programs, first line of defense risk analytics and operations in the business.
  • Develop and implement the data mining and conceptual approaches necessary to establish robust leading indicators and metrics to identify areas of potential exposure and emerging risk to enhance loss anticipation and mitigation.
  • Lead and execute IT assurance activities to mitigate risk related to third parties supporting your organizations business operations.
  • Collaborate with business partners to ensure root-cause analysis is performed and that appropriate corrective action plans are put in place to address issues stemming from the risk assessments, internal audits, regulatory findings, business unit test monitoring, operational risk incidents, and other applicable sources where gaps are identified.
  • Asses risks and drive actions to address the root causes that persistently lead to operational risk losses by challenging both historical and proposed practices.
  • Conduct risk assessments providing risk advice and consulting, guiding business partners through Key Risk Indicator (KRI) development, process review, analysis and risk/gap identification, operational loss analysis and reporting and executive reporting.
  • Convert, design, develop, operate and manage comprehensive security architectures, strategies, policies and programs to assess, prioritize, and mitigate business risk with technology controls.
  • Coach and provide technology risk advice and consultation to business partners; enable businesses to effectively manage risk within their risk appetite and meet business objectives.
  • Mitigate and manage cyber security threats, ensure systems availability, align with global regulatory risk and compliance requirements, managing systems and network complexity.
  • Assess inherent technology and other operational risks in your organizations Digital product development and execution, the suite of control components supporting Digital operations, and the acceptability of residual risk.
  • Partner and collaborate with Compliance and Risk Management, andBusiness Operations, IT, Audit Services, and Regulators to support risk and compliance-based initiatives.
  • Oversee activities are performed through monitoring and developing where necessary: Key Risk Indicator, risk appetite, performance scorecards, risk acceptance, subject matter expert compliance, enterprise risk and control statements, incentive compensation triggers, strategic services and regulatory compliance.
  • Lead independent risk assessments with respect to comprehensiveness and effectiveness of processes by which Technology provides Digital services and products to the organization.
  • Advise the business on how to strengthen and manage their control environment pertaining to oversight of procedures/process, accurate regulatory reporting and filing, document governance, risk control self-assessments, procedure governance, control design, new product controls, Omnichannel Quality Assurance and Business Controls Third Party Governance, and quality governance.
  • Execute responsibilities articulated in the ORM Policy for independent operational risk managers including Operational Risk Reviews (ORR) on any significant or emerging risk areas.
  • Manage and monitor technology, audit and regulatory risk through governance, oversight, reporting and training initiatives / programs including management of audit and regulatory findings, regulatory reviews, process and strategic risk & control self-assessment, and key risk indicator program.
  • Provide segment and product or function specific expertise in order to execute effective oversight of the Business risk identification, assessment, monitoring and mitigation processes.
  • Facilitate and lead identification, assessment and reporting on Risk and Control Self Assessments (RCSA), including process mapping, identification and assessment of risk, identification of controls, and assessments of control design and effectiveness.
  • Execute preventative risk management activities and initiatives such as risk and control assessments, operational risk events reporting, key risk indicator reporting, business continuity planning, records management, and new initiative processes.
  • Advance security governance knowledge including security control relationships and correlation of accumulative/inherent risks related to mitigation, noncompliance and/or risk acceptance.
  • Direct relevant and key operational risk material as necessary at senior level governance forums such as Business Risk Reviews and Business Risk Compliance and other Control Committees as well as for meetings with important stakeholders such as Internal Audit and Regulators.
  • Identify gaps, inconsistencies and other integrity issues in digital operational risk management capabilities, and recommend solutions that remediate issues including the challenge of near miss and deep dive activities for significant risk events.
  • Proactively leverage and analyze data sources to identify trends, themes, tendencies that indicate emerging operational risks by relying on mining trends in relevant metrics.
  • Manage and lead a team of Technology Controls and Information Security experts in the development and management of relevant strategies, programs, tools, frameworks and policies and provide specialized oversight, control and governance activities for key business lines and transformational strategic initiatives and programs, and liaise across the organization and primarily interface with executive and functional stakeholders to minimize overall technology risks to the organization.


Save time, empower your teams and effectively upgrade your processes with access to this practical Key Risk Indicator Toolkit and guide. Address common challenges with best-practice templates, step-by-step work plans and maturity diagnostics for any Key Risk Indicator related project.

Download the Toolkit and in Three Steps you will be guided from idea to implementation results.

The Toolkit contains the following practical and powerful enablers with new and updated Key Risk Indicator specific requirements:

STEP 1: Get your bearings

Start with...

  • The latest quick edition of the Key Risk Indicator Self Assessment book in PDF containing 49 requirements to perform a quickscan, get an overview and share with stakeholders.

Organized in a data driven improvement cycle RDMAICS (Recognize, Define, Measure, Analyze, Improve, Control and Sustain), check the…

  • Example pre-filled Self-Assessment Excel Dashboard to get familiar with results generation

Then find your goals...

STEP 2: Set concrete goals, tasks, dates and numbers you can track

Featuring 999 new and updated case-based questions, organized into seven core areas of process design, this Self-Assessment will help you identify areas in which Key Risk Indicator improvements can be made.

Examples; 10 of the 999 standard requirements:

  1. How robust is your process of identifying risks to the strategy that is, recognizing and responding to threats that stand in the way of strategy execution?

  2. Do you pinpoint any cognitive biases that may have affected the way managers made decisions or influenced choice of strategy or structure?

  3. What role does technology in the form of knowledge play in the production of your organizations goods and services?

  4. Do you have effective formal and informal policies, standard operating procedures, guidance, information and tools?

  5. Does your organization monitor its discretionary spending and, when needed, reduce discretionary expenditures?

  6. How do you monitor the marketplace for developments that could pose opportunities or risks for your business?

  7. Do you eliminate redundant use of cloud services and optimize cost and performance based on business needs?

  8. What were the root causes and actions taken in relation to the high-impact incidents in the last period?

  9. Will an undue focus on the KPI lead to potential adverse effects on other aspects of quality and safety?

  10. How can risk visibility be enhanced by technology and automation and by timely and effective reporting?

Complete the self assessment, on your own or with a team in a workshop setting. Use the workbook together with the self assessment requirements spreadsheet:

  • The workbook is the latest in-depth complete edition of the Key Risk Indicator book in PDF containing 999 requirements, which criteria correspond to the criteria in...

Your Key Risk Indicator self-assessment dashboard which gives you your dynamically prioritized projects-ready tool and shows your organization exactly what to do next:

  • The Self-Assessment Excel Dashboard; with the Key Risk Indicator Self-Assessment and Scorecard you will develop a clear picture of which Key Risk Indicator areas need attention, which requirements you should focus on and who will be responsible for them:

    • Shows your organization instant insight in areas for improvement: Auto generates reports, radar chart for maturity assessment, insights per process and participant and bespoke, ready to use, RACI Matrix
    • Gives you a professional Dashboard to guide and perform a thorough Key Risk Indicator Self-Assessment
    • Is secure: Ensures offline data protection of your Self-Assessment results
    • Dynamically prioritized projects-ready RACI Matrix shows your organization exactly what to do next:


STEP 3: Implement, Track, follow up and revise strategy

The outcomes of STEP 2, the self assessment, are the inputs for STEP 3; Start and manage Key Risk Indicator projects with the 62 implementation resources:

  • 62 step-by-step Key Risk Indicator Project Management Form Templates covering over 1500 Key Risk Indicator project requirements and success criteria:

Examples; 10 of the check box criteria:

  1. Human Resource Management Plan: List the assumptions made to date. What did you have to assume to be true to complete the charter?

  2. Stakeholder Management Plan: Has your organization readiness assessment been conducted?

  3. Human Resource Management Plan: Is the assigned Key Risk Indicator project manager a PMP (Certified Key Risk Indicator project manager) and experienced?

  4. Quality Metrics: Are there already quality metrics available that detect nonlinear embeddings and trends similar to the users perception?

  5. WBS Dictionary: What should you drop in order to add something new?

  6. Human Resource Management Plan: Is there a set of procedures defining the scope, procedures, and deliverables defining quality control?

  7. Activity Duration Estimates: Which types of reports would help provide summary information to senior management?

  8. Roles and Responsibilities: Authority: what areas/Key Risk Indicator projects in your work do you have the authority to decide upon and act on the already stated decisions?

  9. Probability and Impact Matrix: What will be the likely political environment during the life of the Key Risk Indicator project?

  10. Cost Management Plan: How difficult will it be to do specific tasks on the Key Risk Indicator project?

Step-by-step and complete Key Risk Indicator Project Management Forms and Templates including check box criteria and templates.

1.0 Initiating Process Group:

  • 1.1 Key Risk Indicator project Charter
  • 1.2 Stakeholder Register
  • 1.3 Stakeholder Analysis Matrix

2.0 Planning Process Group:

  • 2.1 Key Risk Indicator project Management Plan
  • 2.2 Scope Management Plan
  • 2.3 Requirements Management Plan
  • 2.4 Requirements Documentation
  • 2.5 Requirements Traceability Matrix
  • 2.6 Key Risk Indicator project Scope Statement
  • 2.7 Assumption and Constraint Log
  • 2.8 Work Breakdown Structure
  • 2.9 WBS Dictionary
  • 2.10 Schedule Management Plan
  • 2.11 Activity List
  • 2.12 Activity Attributes
  • 2.13 Milestone List
  • 2.14 Network Diagram
  • 2.15 Activity Resource Requirements
  • 2.16 Resource Breakdown Structure
  • 2.17 Activity Duration Estimates
  • 2.18 Duration Estimating Worksheet
  • 2.19 Key Risk Indicator project Schedule
  • 2.20 Cost Management Plan
  • 2.21 Activity Cost Estimates
  • 2.22 Cost Estimating Worksheet
  • 2.23 Cost Baseline
  • 2.24 Quality Management Plan
  • 2.25 Quality Metrics
  • 2.26 Process Improvement Plan
  • 2.27 Responsibility Assignment Matrix
  • 2.28 Roles and Responsibilities
  • 2.29 Human Resource Management Plan
  • 2.30 Communications Management Plan
  • 2.31 Risk Management Plan
  • 2.32 Risk Register
  • 2.33 Probability and Impact Assessment
  • 2.34 Probability and Impact Matrix
  • 2.35 Risk Data Sheet
  • 2.36 Procurement Management Plan
  • 2.37 Source Selection Criteria
  • 2.38 Stakeholder Management Plan
  • 2.39 Change Management Plan

3.0 Executing Process Group:

  • 3.1 Team Member Status Report
  • 3.2 Change Request
  • 3.3 Change Log
  • 3.4 Decision Log
  • 3.5 Quality Audit
  • 3.6 Team Directory
  • 3.7 Team Operating Agreement
  • 3.8 Team Performance Assessment
  • 3.9 Team Member Performance Assessment
  • 3.10 Issue Log

4.0 Monitoring and Controlling Process Group:

  • 4.1 Key Risk Indicator project Performance Report
  • 4.2 Variance Analysis
  • 4.3 Earned Value Status
  • 4.4 Risk Audit
  • 4.5 Contractor Status Report
  • 4.6 Formal Acceptance

5.0 Closing Process Group:

  • 5.1 Procurement Audit
  • 5.2 Contract Close-Out
  • 5.3 Key Risk Indicator project or Phase Close-Out
  • 5.4 Lessons Learned



With this Three Step process you will have all the tools you need for any Key Risk Indicator project with this in-depth Key Risk Indicator Toolkit.

In using the Toolkit you will be better able to:

  • Diagnose Key Risk Indicator projects, initiatives, organizations, businesses and processes using accepted diagnostic standards and practices
  • Implement evidence-based best practice strategies aligned with overall goals
  • Integrate recent advances in Key Risk Indicator and put process design strategies into practice according to best practice guidelines

Defining, designing, creating, and implementing a process to solve a business challenge or meet a business objective is the most valuable role; In EVERY company, organization and department.

Unless you are talking a one-time, single-use project within a business, there should be a process. Whether that process is managed and implemented by humans, AI, or a combination of the two, it needs to be designed by someone with a complex enough perspective to ask the right questions. Someone capable of asking the right questions and step back and say, 'What are we really trying to accomplish here? And is there a different way to look at it?'

This Toolkit empowers people to do just that - whether their title is entrepreneur, manager, consultant, (Vice-)President, CxO etc... - they are the people who rule the future. They are the person who asks the right questions to make Key Risk Indicator investments work better.

This Key Risk Indicator All-Inclusive Toolkit enables You to be that person.


Includes lifetime updates

Every self assessment comes with Lifetime Updates and Lifetime Free Updated Books. Lifetime Updates is an industry-first feature which allows you to receive verified self assessment updates, ensuring you always have the most accurate information at your fingertips.